Details from Jonathan Bean, who argues that pending legislation could mean a massive pay cut in order to fund our pensions.
I'll quickly make one response to him here, though. He asks where the FA is in response to this. At graduation and grading exams. We don't have a full-time staffer on the pension front. That's because we don't have a full time (or part time) staffer. So, yes, our concerns tend to be local--though, hey, I'm trying, aren't I?
If the IEA is selling us down the river, though, that would be another story. In their potential defense, this may be the perennial debate between choosing to help improve a bad deal to make it slightly less bad and resolutely opposing a bad deal which doesn't get any better, and may well get passed despite one's opposition.